MURRAY HILL, New Jersey, United States—Lucent Technologies commented on its declining economic situation, stating it will post revenues in the first quarter of between US$3.1 billion and US$3.4 billion, but that the first quarter will also represent the low point of the company’s falling sales.
Lucent blamed the industrywide reduction in spending for network infrastructure and related services as the reason behind its flagging revenues.
“We continue to move swiftly and decisively on all points of our Phase II restructuring program, which is driving sequential improvement in our bottom line, despite this reduction in sales,” said Lucent Chairman and Chief Executive Officer Henry Schacht. “The company expects the loss per share from continuing operations for the first fiscal quarter of 2002 to be 23 cents (U.S.) to 26 cents (U.S.).”
Schacht also confirmed the company plans to spin off Agere Systems.
